57% increase in TE’s debts in H1 2018

The net debts of Telecom Egypt (TE) during the first half of this year were estimated to be EGP 8.3bn compared to EGP 4.7bn in the same period of 2017, marking an increase of 43.4%.

The liquidity of the company during the first half of this year reached EGP 925m compared to EGP 2.2bn during the comparison period of last year.

The retail revenues at the company from the sector of home consumers during the first half of this year grew by 45% compared to the same period last year, according to an official at TE, as the revenues of home and consumer sector reached EGP 3.7bn during the first half of 2018 compared to EGP 2.5bn during the comparison period in 2017.

As for the enterprise sector of TE, a weak growth of 2% took place during the first half of 2018 compared to the same period of 2017. According to the official, the revenues of the sector reached EGP 1.2bn during the first half of this year compared to EGP 1.1bn in the comparison period in 2017.

As for the wholesale revenues from the domestic sector, there was also a growth by 17% during the first half of 2018 compared to the same period last year, making revenues grow from EGP 1.6bn in 2017 to EGP 1.9bn during this year.

According to the figures of TE, the company managed to achieve operational growths estimated to have reached EGP 2.1bn during the first half of 2018, compared to EGP 1.9bn during the comparison period of last year with a growth of 11%.